Provided we have a weekly or a monthly close below $38k and the 1 year developing value area top will force selling pressure to further downside pretty fast.
If price trades below the lower low on the bull run of November on the daily time frame we can confirm an official trend change and an end to the bull run until a correction has finished (It's way too long overdue)
The clearance area gaps on the VP price action reveals that price will harshly drop very fast, with hardly any transactions done at these levels, price usually drops until a higher value node is hit.
Important ranges
$38,000 - $31,204
$24,261 - $22,588
$19,315 - $17810 - Correction will end at roughly here
due to high volume nodes, accumulation will begin here then off we go again back up.
Heavy accumulation here is recommended! Expect a liquidity spike to tap into $15,600
$14,000 stop loss for leverage traders.
Play these levels as they come, it is still possible for a $12,000 btc depending on if these ranges do not show signs of forming higher highs and lows off the bounces.
If price trades below the lower low on the bull run of November on the daily time frame we can confirm an official trend change and an end to the bull run until a correction has finished (It's way too long overdue)
The clearance area gaps on the VP price action reveals that price will harshly drop very fast, with hardly any transactions done at these levels, price usually drops until a higher value node is hit.
Important ranges
$38,000 - $31,204
$24,261 - $22,588
$19,315 - $17810 - Correction will end at roughly here
due to high volume nodes, accumulation will begin here then off we go again back up.
Heavy accumulation here is recommended! Expect a liquidity spike to tap into $15,600
$14,000 stop loss for leverage traders.
Play these levels as they come, it is still possible for a $12,000 btc depending on if these ranges do not show signs of forming higher highs and lows off the bounces.
Comment:
Seeing as the left higher low was not breached on the weekly or monthly, it's held its level well. I now think we can now see BTC bounce within the 2 high volume ranges at $47k - $37k